PHOENIX, June 4, 2014 (GLOBE NEWSWIRE) -- Sustainable glycol technologies leader GlyEco, Inc. (OTCQB:GLYE) ("GlyEco" or the "Company") has completed significant upgrades at its New Jersey glycol processing center to meet higher than anticipated customer demand for its refinery grade recycled glycol ("T1™"), which it began producing at the facility in the fall of 2013.
Production capacity at the New Jersey processing center has increased 500% to 5 million gallons, enabling the Company to implement its patent-pending glycol recycling technology on a large scale. Waste glycols treated at this processing center are recycled into glycols that meet rigorous ASTM E1177 standards.
Further improvements are scheduled through the end of 2014, boosting production capacity to 12-15 million gallons. The Company intends to complete production enhancements as it extends its service offering into new markets and finalizes several strategic feedstock agreements.
"We overcame serious challenges to complete the initial construction phase of our New Jersey processing center upgrades. Progress was delayed by multiple severe weather storms and transportation outages," stated John Lorenz, CEO of GlyEco. "Now, the hoses are hooked up, the nozzles are turned on, and the systems have successfully completed initial runs. We are ready to begin ramping production levels during June and will continue to increase production throughout the year. We're also expanding our waste glycol disposal services to new markets as our production capabilities grow."
The Company's completed upgrade included expanding the physical size of its operation and the installation of equipment and proprietary technology. Newly installed systems have multi-million gallon production capabilities and offer advanced pre-treatment, distillation and separation systems to improve end-product quality, and state-of-the-art post-treatment systems.
Lorenz continued, "Completing this phase of construction was a key component to our technology roll-out plan. It enables us to meet the high-volume demands of clients in underserved industries while maintaining our quality standards. Looking to the future, the next phase of development is about implementing logistics which maximize profits. In New Jersey, we will increase storage capacity, implement high-volume batch processing methods, and improve our in-house laboratory. These systems will improve efficiency while reducing costs."
About GlyEco
GlyEco is a green chemistry company with a patent-pending technology for transforming a hazardous waste into green products. GlyEco Technology™ has the unique ability to clean the polluted glycols from all five waste-producing industries: HVAC, Textiles, Automotive, Airline and Medical. This technology recycles waste glycol to meet ASTM Type 1 specifications – the same level of purity expected of refinery-grade glycols.
This patent-pending technology enables our clients to handle the removal of their waste glycol in a responsible and environmentally safe manner. Our clients can treat glycols as a more sustainable resource, recycling and re-using waste glycols repeatedly. Since most polluted glycol is disposed of in our surface waters - which can have devastating results for the environment, especially aquatic life - the GlyEco Technology™ solution gives our customers a way to reduce waste while caring for the environment, while reducing their costs.
About Glycol Recycling
Recycling waste glycols presents an inventive solution to supply shortages and increasing costs for refinery-produced material. Global consumption for refinery-produced ethylene glycol is over 5.5 billion gallons per year and climbing. GlyEco Technology™ is uniquely able to process all five sources of waste glycols, opening new avenues of supply. With proper handling, glycols can be recycled and reused indefinitely, creating the opportunity to utilize this valuable material as a predominately sustainable resource.
Special Note Concerning Forward-Looking Statements
This release contains statements that may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements regard the intent, belief, and expectations of the Company. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, they involve risks and uncertainties, and their results may differ materially.